Schedule C tax return codes for tax years 2020 and after
TRC | Description | Tax Return Line |
|---|---|---|
34-215 | Sch K: Guaranteed Payments to Partners (Services) | Sch C line 9 |
34-210 | Sch K: Guaranteed Payments to Partners (Capital) | Sch C line 9 |
34-743 | Sch K: IRC Sec. 743(b) Positive Adjustments | Sch C line 9 |
34-745 | Sch K: Sec. 951A income | Sch C line 9 |
34-755 | Sch K: Sec. 965(a) income | Sch C line 9 |
34-765 | Sch K: Subpart F income | Sch C line 9 |
44-743 | Sch K: IRC Sec. 743(b) Negative Adjustments | Sch C line 17 |
44-910 | Sch K: Foreign Taxes | Sch C line 21a |
TRCs are mapped to the tax year 2020 and later Schedule C as follows:
Tax Return Line | Included TRCs |
|---|---|
1a Gross receipts or sales | 30-100 |
1b Returns and allowances | 30-105 |
2 Costs of goods sold | 40-11 through 40-280 |
4 Dividends | 31-108 through 31-185, 34-410, 34-412 |
5 Interest | 31-340, 31-380, 34-300, 34-310 |
6a Gross rents | 31-420 |
6b Gross royalties and license fees | 31-520, 34-470 |
7 Net gain or (loss) on sale of capital assets | 31-620, 34-500 through 34-600 |
8a Foreign currency transaction gain or loss - unrealized | 31-385 |
8b Foreign currency transaction gain or loss - realized | 31-387 |
9 Other income | 31-570, 31-640 through 34-210, 34-710 through 34-800 |
11 Compensation not deducted elsewhere | 41-210, 41-220, 41-221, 41-230 |
12a Rents | 41-350 |
12b Royalties and license fees | 41-825 |
13 Interest | 41-500 |
14 Depreciation not deducted elsewhere | 41-540 |
15 Depletion | 41-560 |
16 Taxes (exclude income tax expense (benefit)) | 41-420 |
17 Other deductions (exclude income tax expense (benefit)) | 41-260, 41-300, 41-520, 41-570 through 41-820, 41-900 through 44-800 |
20 Unusual or infrequently occurring items | 41-830 |
21a Income tax expense (benefit) – current | 41-400, 41-440, 41-460, 41-840, 44-910 |
21b Income tax expense (benefit) - deferred | 41-445 |
